Guideline Value for Chandran Lane (Vetri Nagar)

Chandran Lane (Vetri Nagar) guideline value

The current guideline value of Chandran Lane (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Special Type - II.

How the guideline value of Chandran Lane (Vetri Nagar) has changed

The guideline value of Chandran Lane (Vetri Nagar) has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, by 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,301 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The changes in the guideline values reflect the fluctuations in the real estate landscape over the years, with notable increases and decreases at various intervals.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is exactly the guideline value for Chandran Lane (Vetri Nagar). Below are some other streets in Peravallur:

• Chandran Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandrasekaran Salai: Rs 2,700 per sq.ft (2024)
• Chakarapani Thottam: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Lane (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Together, the total charges would be Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandran Lane (Vetri Nagar)?

The Sub Registrar Office that covers Chandran Lane (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Peravallur

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning and compliance with local regulations.

When a property is registered, the guideline value serves as a benchmark for the transaction value. This means that the higher of the guideline value or the sale price will be used to calculate the applicable duties and fees, ensuring that all parties are aware of their financial obligations.

Frequently asked questions

What is the current guideline value of Chandran Lane (Vetri Nagar)?

The current guideline value of Chandran Lane (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What is the land classification of Chandran Lane (Vetri Nagar)?

Chandran Lane (Vetri Nagar) is classified as Residential Special Type - II under the Sembiam SRO.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Where is the Sub Registrar Office for Chandran Lane (Vetri Nagar)?

The Sub Registrar Office for Chandran Lane (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.